Erste Bank JPMorgan Merrill Lynch International

The reasons for the revaluations are, on the one hand, the development of the differences in
equity capital; those in the context of the carry-over of equity capital have already been described.
This however occurs only to that extent, when the revaluations as a result of IFRS have not had a
direct effect on equity capital.
Additionally the following should be considered: The currency conversion takes place according to
IFRS in the profit and loss calculation on the basis of the monthly average rate.
In the consolidated financial statements subject to commercial law the reporting date was used.
According to IFRS, premiums and benefits for financial insurance contracts are not taken from
the profit and loss calculation. Instead premiums are, independent of results, taken directly from an
increase in the appropriate liabilities and benefits as a reduction in liabilities.
The Managing Board:
Dr. Günter Geyer Dkfm. Karl Fink
Mag. Christian Brandstetter Dr. Rudolf Ertl Dr. Peter Hagen
Ing. Mag. Robert Lasshofer Dr. Martin Simhandl
Vienna, 7 April 2006
F-221